Bank of Montreal Can Purchases 1,299 Shares of Revvity Inc. $RVTY

Bank of Montreal Can increased its position in Revvity Inc. (NYSE:RVTY) by 1.0% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 128,907 shares of the company’s stock after acquiring an additional 1,299 shares during the quarter. Bank of Montreal Can’s holdings in Revvity were worth $12,468,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of RVTY. New York State Common Retirement Fund grew its stake in shares of Revvity by 4.7% during the 1st quarter. New York State Common Retirement Fund now owns 72,911 shares of the company’s stock valued at $7,714,000 after purchasing an additional 3,300 shares during the period. MQS Management LLC bought a new position in shares of Revvity in the 1st quarter worth approximately $336,000. Signaturefd LLC boosted its holdings in shares of Revvity by 9.7% in the first quarter. Signaturefd LLC now owns 1,830 shares of the company’s stock worth $194,000 after buying an additional 162 shares during the last quarter. Apollon Wealth Management LLC bought a new stake in Revvity during the first quarter valued at approximately $213,000. Finally, Wealthfront Advisers LLC increased its holdings in Revvity by 8.9% during the first quarter. Wealthfront Advisers LLC now owns 8,988 shares of the company’s stock valued at $951,000 after buying an additional 731 shares during the last quarter. Hedge funds and other institutional investors own 86.65% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on RVTY shares. Weiss Ratings downgraded shares of Revvity from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, October 8th. Barclays raised their target price on Revvity from $100.00 to $105.00 and gave the stock an “overweight” rating in a report on Tuesday, October 28th. Raymond James Financial reissued an “outperform” rating and set a $115.00 price target (down previously from $120.00) on shares of Revvity in a report on Tuesday, July 29th. Stifel Nicolaus reduced their price target on Revvity from $120.00 to $110.00 and set a “hold” rating for the company in a research report on Tuesday, July 29th. Finally, Robert W. Baird lifted their price objective on Revvity from $122.00 to $123.00 and gave the company an “outperform” rating in a research report on Tuesday, October 28th. Eight investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $114.75.

Revvity Price Performance

NYSE:RVTY opened at $90.69 on Friday. The company has a quick ratio of 2.75, a current ratio of 1.75 and a debt-to-equity ratio of 0.36. The business’s 50-day simple moving average is $89.84 and its two-hundred day simple moving average is $92.29. The stock has a market cap of $10.28 billion, a PE ratio of 45.57, a P/E/G ratio of 3.15 and a beta of 1.01. Revvity Inc. has a 52 week low of $81.36 and a 52 week high of $128.29.

Revvity (NYSE:RVTY) last released its quarterly earnings data on Monday, October 27th. The company reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.04. Revvity had a return on equity of 7.52% and a net margin of 8.44%.The firm had revenue of $698.95 million during the quarter, compared to analyst estimates of $699.75 million. During the same quarter in the prior year, the company posted $1.28 earnings per share. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. Revvity has set its FY 2025 guidance at 4.900-5.000 EPS. As a group, analysts forecast that Revvity Inc. will post 4.94 EPS for the current fiscal year.

Revvity Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 6th. Stockholders of record on Friday, January 16th will be given a dividend of $0.07 per share. The ex-dividend date is Friday, January 16th. This represents a $0.28 annualized dividend and a dividend yield of 0.3%. Revvity’s dividend payout ratio (DPR) is presently 14.07%.

Revvity declared that its Board of Directors has authorized a share buyback program on Monday, October 27th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to buy up to 8.7% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Revvity Profile

Revvity, Inc provides health sciences solutions, technologies, and services in the Americas, Europe, and Asia, and internationally. The Life Sciences segment provides instruments, reagents, informatics, software, subscriptions, detection, imaging technologies, warranties, training, and services. Its Diagnostics segment provides instruments, reagents, assay platforms, and software products for the early detection of genetic disorders, such as pregnancy and early childhood, as well as infectious disease testing in the diagnostics market.